The private-equity owners of Toys R Us are in talks with investment banks about the possibility of underwriting an initial public offering this summer, the New York Post reported.

It is understood Bain Capital, KKR and Vornado Realty Trust are talking with banks including Goldman Sachs, Deutsche Bank and JPMorgan Chase.

Toys R Us wants to issue as much as $1bn (£641m) in publicly traded shares.